Results 2011 and outlook 2012 holcim ltd switzerland

© 2012 Holcim Ltd/Switzerland
First cement plant in Holderbank (Switzerland)
Results 2011 and Outlook
1
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Holcim at a glance
 Growth in most of the emerging markets, but subdued building
activity in many mature markets
 Higher sales volumes in cement, aggregates and ready-mix
concrete with significant volume increases and higher operating
EBITDA in the 4
th
quarter
 Increasing costs for raw materials, energy and transport as well
as the strong Swiss franc impacted operating result
 Holcim achieved higher turnover and stable operating EBITDA
like-for-like
 Non-cash impairments impacted net income
 Proposal for a cash payout from capital reserves of CHF 1.00
per registered share (2010: 1.50)
2
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Positive volume development in Europe
 Debt crisis dampened economic recovery in the
building industry
 Higher sales of cement, aggregates and ready-mix concrete
 Restructuring and plant closures in Italy, Spain and Eastern
Europe
 Start-up of the Shurovo plant in Russia and first clinker

production at the Garadagh plant in Azerbaijan
 Strong Swiss franc, higher costs and lower receipts from the
sale of CO
2 certificates impacted result
 Non-cash impairments in Spain and Eastern Europe
3
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Slight recovery tendencies in North America
 Slightly better economic performance in the US and moderate
development in Canada
 Higher sales volumes in all segments – supported by
acquisitions in the field of aggregates and ready-mix concrete
 Strong Swiss franc and higher production and distribution costs
led to a lower operating EBITDA
 The Catskill and Artesia plants were permanently closed in the
4
th
quarter, resulting in non-cash impairments
4
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Solid economic development in Latin America
 Lively construction activity in most countries and increased
cement demand
 Higher sales volumes in all segments and a strong rise in the
aggregates segment
 In Ecuador, capacity expansion was concluded and decision
taken to build a new kiln line in Brazil
 Despite higher costs for energy and transport, operating

EBITDA increased like-for-like
5
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Stable markets in Africa Middle East
 Positive economic development in Morocco, Lebanon, West
Africa and in the Middle East
 Decreasing shipments of aggregates, but increased sales
volumes of ready-mix concrete
 Project for doubling clinker capacity at the Fès plant continued
as scheduled
 Operating EBITDA almost reached previous year’s level
like-for-like
6
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Dynamic building activity in Asia Pacific
 Asia predominantly remained on a growth path and in Oceania
only the mining sector is enjoying a good workload
 Floods and an earthquake impacted building activity in
Australia, Thailand and New Zealand
 Higher sales volumes in all segments
 Selective capacity expansion
 Despite cost pressure, operating EBITDA increased significantly
like-for-like
7
Financial results 2011
© 2012 Holcim Ltd/Switzerland
2010 2011
LFL CIS FX Total

Sales volumes
- Cement (mt)
33.9 36.2 6.3% 0.4% 6.7%
- Aggregates (mt)
39.1 42.6 7.2% 1.8% 8.9%
- Ready-mix (mm
3
)
11.5 12.2 3.0% 3.6% 6.5%
Net sales
5,085 5,284 13.1% 0.8% -10.0% 3.9%
Operating EBITDA
936 987 15.5% 0.3% -10.5% 5.3%
Operating profit
441 180 -55.6% -1.8% -1.9% -59.2%
Net income
398 -322 -197.6% -1.1% 17.8% -180.8%
Net income attr. to
Holcim shareholders
307 -438 -270.4% -1.4% 28.8% -242.9%
Cash flow
1,606 1,823 28.4% 0.3% -15.2% 13.5%
Million CHF
(if not otherwise stated)
+/-Q4
Key financial figures – Q4 2011
8
Financial results 2011
© 2012 Holcim Ltd/Switzerland
LFL CIS FX Total

Sales volumes
- Cement (mt)
131.9 136.7 144.3 5.5% 0.1% 5.6%
- Aggregates (mt)
143.4 157.9 173.0 5.6% 4.0% 9.6%
- Ready-mix (mm
3
)
41.8 45.9 48.4 2.2% 3.2% 5.4%
Net sales
21,132 21,653 20,744 7.5% 0.8% -12.5% -4.2%
Operating EBITDA
4,630 4,513 3,958 -0.2% 0.2% -12.3% -12.3%
Operating profit
2,781 2,619 1,933 -14.7% -0.5% -11.0% -26.2%
Net income
1,958 1,621 682 -52.3% -0.4% -5.2% -57.9%
Net income attr. to
Holcim shareholders
1,471 1,182 275 -74.9% -0.5% -1.3% -76.7%
Cash flow
3,888 3,659 2,753 -14.0% -0.3% -10.5% -24.8%
EPS CHF
1
4.93 3.69 0.86 -76.7%
Dividend / payout per
share CHF
1.50 1.50 1.00
2
-33.3%

Million CHF
(if not otherwise stated)
+/-
2009 2010 2011
Key financial figures – Full year 2011
1
Calculated on the weighted average number of shares outstanding
2
Proposed by the Board of Directors for a payout from capital contribution reserves
9
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Net sales
21,653 20,744 20,744 -4.2%
Operating EBITDA
4,513 3,958 17
1
3,975 -11.9%
Depreciation
-1,894 -2,025 359
2
-1,666 -12.0%
Operating profit
2,619 1,933 375 2,308 -11.9%
Financial expenses
-897 -1,210 415
3
-795 -11.4%
Income taxes
-615 -449 15

4
-464 -24.6%
Net income
1,621 682 775 1,457 -10.1%
Net income attr. to
Holcim shareholders
1,182 275 775 1,050 -11.2%
EPS CHF
5
3.69 0.86 3.28 -11.1%
Million CHF
(if not otherwise stated)
2010 2011
Pro forma
2011
One-off
items
vs. 2010
Reconciliation of impairment charges on results
1
Environmental provisions related to the closures in North America
2
Impairment charges of which CHF 327 million related to Europe and CHF 32 million related to North America
3
Impairment and reclassification of foreign exchange losses related to AfriSam
4
Tax effect related to impairment charges
5
Calculated on the weighted average number of shares outstanding
10

Financial results 2011
© 2012 Holcim Ltd/Switzerland
Major changes in the scope of consolidation
Effective as at
+ Est Granulats, Aube Bétons and Hupfer AG (Moldau) January 1, 2011
+ Lattimore Materials Inc. March 4, 2011
+/– Various smaller companies
11
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Cement – Sales volumes by region

2010/2011 LFL Change in
structure
Total
Europe 1.9% 0.3% 2.2%
North America 2.9% 0.0% 2.9%
Latin America 6.7% 0.0% 6.7%
Africa Middle East -2.1% 0.0% -2.1%
Asia Pacific 5.8% 0.1% 5.9%
Total 5.5% 0.1% 5.6%
Total Group
2009 131.9
2010 136.7
2011 144.3
Million t
12
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Aggregates – Sales volumes by region


2010/2011 LFL Change in
structure
Total
Europe 3.3% 3.7% 7.0%
North America 2.4% 8.7% 11.0%
Latin America 18.7% 0.0% 18.7%
Africa Middle East -7.0% 0.0% -7.0%
Asia Pacific 12.6% 0.0% 12.6%
Total 5.6% 4.0% 9.6%
Total Group
2009 143.4
2010 157.9
2011 173.0
Million t
13
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Ready-mix concrete and asphalt – Sales volumes by region

2010/2011 * LFL Change in
structure
Total
Europe 0.3% 0.3% 0.5%
North America 0.2% 25.3% 25.4%
Latin America 5.2% 0.0% 5.2%
Africa Middle East 4.0% 0.0% 4.0%
Asia Pacific 2.8% 0.0% 2.8%
Total 2.2% 3.2% 5.4%
Total Ready-mix

2009 41.8
2010 45.9
2011 48.4
Total Asphalt
2009 11.0
2010 10.6
2011 10.3
*
Ready-mix concrete only
Million m
3
/t
14
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Exchange rates
1
Weighted by net sales full year 2011
Statement of income
average exchange rates in CHF
2009 2010 2011 +/-
1 EUR 1.51 1.38 1.24 -10.1%
1 GBP 1.70 1.61 1.42 -11.8%
1 USD 1.09 1.04 0.89 -14.4%
1 LATAM Basket (MXN, BRL, ARS, CLP)
1
0.98 1.00 0.87 -13.0%
1 Asian Basket (AUD, IDR, INR, THB, PHP)
1
0.95 1.00 0.89 -11.0%

Statement of financial position
exchange rates in CHF
31/12/09 31/12/10 31/12/11 +/-
1 EUR 1.49 1.25 1.22 -2.4%
1 GBP 1.66 1.45 1.45 0.0%
1 USD 1.03 0.94 0.94 0.0%
1 LATAM Basket (MXN, BRL, ARS, CLP)
1
1.06 1.00 0.90 -10.0%
1 Asian Basket (AUD, IDR, INR, THB, PHP)
1
1.03 1.00 0.93 -7.0%
15
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Foreign exchange rate impact
-508
86
139
-179
-228
-435
-916
-854
-98
-203
-73
-42
-32
40

13
-181
-10.0%
1.8%
2.5%
-3.1%
-4.3%
-9.2%
-14.9%
-15.1%
-10.5%
-4.1%
-2.2%
2.9%
1.7%
-8.0%
-14.2%
-14.7%
Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011
Net sales impact Operating EBITDA impact Sales impact EBITDA impact
Million CHF
16
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Like-for-Like (LFL) -2,510 -10.0% -444 -2.1% 1,632 7.5%
Change in structure 195 0.8% 1,147 5.4% 171 0.8%
Forex movements -1,710 -6.8% -182 -0.8% -2,712 -12.5%
Total change -4,025 -16.0% 521 2.5% -909 -4.2%
Net sales
Million CHF

17
Financial results 2011
© 2012 Holcim Ltd/Switzerland

2010/2011 LFL Change in
structure
Currency Total
Europe 3.1% 0.4% -9.9% -6.3%
North America 1.3% 4.7% -13.9% -7.8%
Latin America 11.1% -0.4% -14.5% -3.8%
Africa Middle East -0.3% 0.0% -12.4% -12.6%
Asia Pacific 14.2% 0.0% -13.7% 0.5%
Total 7.5% 0.8% -12.5% -4.2%
Net sales by region
Million CHF
2009 21,132
2010 21,653
2011 20,744
18
Financial results 2011
© 2012 Holcim Ltd/Switzerland
North America
14.0%
Europe
28.6%
Asia Pacific
37.4%
Africa Middle East
4.5%
Latin America

15.5%
Net sales by region
Net sales 2011
19
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Operating EBITDA
Margin
Like-for-Like (LFL) -270 -5.1% -284 -6.1% -11 -0.2%
Change in structure -39 -0.7% 188 4.1% 11 0.2%
Forex movements -394 -7.4% -21 -0.5% -556 -12.3%
Total change -703 -13.2% -117 -2.5% -556 -12.3%
Million CHF
20
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Operating EBITDA by region

2010/2011 LFL Change in
structure
Currency Total
Europe -3.8% 0.7% -7.9% -11.0%
North America -15.5% 1.3% -10.7% -24.9%
Latin America 2.9% -0.2% -13.9% -11.2%
Africa Middle East -1.1% 0.0% -11.9% -13.0%
Asia Pacific 6.8% 0.0% -13.4% -6.6%
Total -0.2% 0.2% -12.3% -12.3%
Million CHF
1
2009 4,630

2010 4,513
2011 3,958
21
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Operating profit
Like-for-Like (LFL) -245 -7.3% -281 -10.1% -385 -14.7%
Change in structure -72 -2.1% 104 3.7% -14 -0.5%
Forex movements -262 -7.8% 15 0.6% -288 -11.0%
Total change -579 -17.2% -162 -5.8% -686 -26.2%
Margin
Million CHF
22
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Operating profit by region
Million CHF
1

2010/2011 LFL Change in
structure
Currency Total
Europe -92.5% -0.3% 4.7% -88.1%
North America -96.3% -11.1% 6.9% -100.4%
Latin America -0.1% -0.2% -13.5% -13.8%
Africa Middle East -2.4% 0.0% -11.6% -14.0%
Asia Pacific 10.3% 0.0% -14.1% -3.8%
Total -14.7% -0.5% -11.0% -26.2%
2009 2’781
2010 2’619

2011 1’933
23
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Net income
-17.5%
-76.7%
-12.0%
-57.9%
-19.6%
-17.2%
Million CHF
24
Financial results 2011
© 2012 Holcim Ltd/Switzerland
Cash flow from operating activities
Like-for-Like (LFL) 446 12.0% -323 -8.3% -511 -14.0%
Change in structure 61 1.6% 136 3.5% -11 -0.3%
Forex movements -322 -8.6% -42 -1.1% -384 -10.5%
Total change 185 5.0% -229 -5.9% -906 -24.8%
Million CHF
Margin